In trading on Friday, shares of The Charles Schwab Corporation’s 4.45% Dep Shares Non-Cumul Perp Preferred Stock Series J (Symbol: SCHW.PRJ) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.113), with shares changing hands as low as $20.16 on the day. This compares to an average yield of 6.41% in the “Financial” preferred stock category, according to Preferred Stock Channel. As of last close, SCHW.PRJ was trading at a 18.72% discount to its liquidation preference amount, versus the average discount of 7.02% in the “Financial” category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.
The chart below shows the one year performance of SCHW.PRJ shares, versus SCHW:
Below is a dividend history chart for SCHW.PRJ, showing historical dividend payments on The Charles Schwab Corporation’s 4.45% Dep Shares Non-Cumul Perp Preferred Stock Series J:
Free Report: Top 8%+ Dividends (paid monthly)
In Friday trading, The Charles Schwab Corporation’s 4.45% Dep Shares Non-Cumul Perp Preferred Stock Series J (Symbol: SCHW.PRJ) is currently down about 0.1% on the day, while the common shares (Symbol: SCHW) are up about 0.8%.
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